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Lng Prices

Russia Could Fend off US LNG Plans for Europe

By Oleg Vukmanovic and Henning Gloystein, Reuters As Russia tightened its grip on Ukraine's Crimea region this month, U.S. and European Union officials were urging the Obama Administration to speed up approvals of more liquefied natural gas (LNG) export terminals. Yet Russian exporter Gazprom's ability to swamp European natural gas markets with supply while depressing prices will make it difficult for as-yet unavailable U.S. supplies to displace Russian gas in Europe. The EU is keen to diversify away from Russian gas imports, a stance hardened by Gazprom's decision to switch off supply to Ukraine during a pricing dispute in 2009 which curtailed supplies to EU member states, as well. Yet U.S. LNG, exports of which are expected to ramp up beginning next year, are not a silver bullet in supply diversification for Europe. State-controlled Gazprom sells most of its gas to Europe in long-term deals that are partly linked to the price of oil. It has recently agreed major price reductions with most of its European customers, including Germany's E.ON and RWE, France's GDF Suez and Italy's ENI and Edison. The move has helped defend its leading position in Europe, including from potential U.S. shipments, and industry sources say that Russia may agree to further discounts. U.S. exports to Europe would barely break even at current spot market prices, as operating costs, fees and shipping rates would push the price of U.S. cargoes above European spot levels.


Classification Leaders Weigh in on Marine Propulsion

James Watson, President & COO, Americas Division, ABS

When talk turns to marine propulsion and the host of surrounding topics – emissions, efficiency, fuel consumption – we turn to class for answers. While there are just two questions, the ensuing answers from leaders at ABS, BV, ClassNK, DNV GL, LR and RINA are voluminous & enlightening.   • Paal Johansen, DNV GL    The stricter environmental regulations and rising fuel costs lead to technology development in design, size, propulsion and operations


LNG Sabine Pass Terminal Contract Signed

Sabine Pass Terminal: Image credit Cheniere Partners

Cheniere Energy Partners' subsidiary Sabine Pass Liquefaction signs a LNG sale and purchase agreement with Total Gas & Power North America. Cheniere Partners owns 100 percent of the Sabine Pass LNG terminal located on the Sabine Pass Channel in western Cameron Parish, Louisiana.  The Sabine Pass LNG terminal has regasification and send-out capacity of 4.0 billion cubic feet per day (Bcf/d) and storage capacity of 16.9 billion cubic feet equivalent (Bcfe).


Jensen to Design LNG Bunker Barges

Image: Jensen Marine

Houston-based LNG fuel supply and distribution company LNG America LLC announced today that it has contracted Jensen Maritime, Crowley Maritime Corp.'s Seattle-based naval architecture and marine engineering company, to design the initial bunker/shuttle barge for its U.S. Gulf Coast operations. Currently no LNG bunkering barges are in operation in American waterways, and these vessels will be among the first to be developed and built


LNG Spot Prices Drop; Demand Dips from Brazil, Japan

By Oleg Vukmanovic and Jacob Gronholt-Pedersen,  Reuters Asian spot liquefied natural gas (LNG) fell this week as demand from Brazil's Petrobras slackened and top Japanese buyers switched to cheaper fuels and relied more on supplies under long-term deals. Prices for April delivery dropped to around $18.10 per million British thermal units (mmBtu) from $19.60 per mmBtu last week. Petrobras, a major Atlantic Basin LNG buyer in recent weeks


Dynagas LNG Completes Acquisition of Arctic Aurora

Dynagas LNG Partners LP

  Dynagas LNG Partners LP announced today that it has completed its previously announced acquisition of the ownership interests in the entity that owns and operates the 2013 built ice class liquefied natural gas carrier Arctic Aurora from Dynagas Holding Ltd., Dynagas Partners’ sponsor, for a purchase price of $235.0 million. On June 19, 2014 Dynagas Partners entered into a new $340 million senior secured revolving credit facility which was used to refinance $214


EU Monitors Market

No improvement in the market and no change in the behaviour of South Korean yards, says fifth Commission report on world shipbuilding The world shipbuilding market continues to face serious difficulties, while certain South Korean yards are still pricing ships below cost, notes the European Commission's latest (fifth) report on world shipbuilding, adopted today. World ship prices are still being depressed by excess supply, due to past expansion of yards mainly in Korea


Korea's Daewoo To Grab Hold of LNG Ship Market

Daewoo Shipbuilding and Marine Engineering Co Ltd aims to grab half this year's 15 to 20 orders for Liquefied Natural Gas (LNG) carriers, strengthening its lead in the higher end of the shipbuilding market, the company said on Monday. Company officials reportedly said that Daewoo was expected to sign a $500 million deal to build an offshore fixed platform in Angola in April. The price for an LNG carrier is about $160-$175 million, about twice the price for a 300


LNG Gains Traction as Alternative Fuel

Triality VLCC illustration_web.tif

As Cargo, Fuel or both; LNG is emerging as the clear and clean way forward for the maritime industry.   •    In the Beginning         The use of LNG as a marine fuel is not new. Vessels trading cryogenic LNG have burned boil-off natural gas in steam boilers for many years as a simple solution to maintaining necessary temperatures and pressures within cargo spaces


Teekay to Acquire Up to Two LNG Carriers

Teekay LNG Partners L.P. announced that it has agreed to acquire a 155,900 cubic meter (cbm) liquefied natural gas (LNG) carrier newbuilding from Awilco LNG ASA, a Norwegian-based owner and operator of LNG carriers. The vessel, which is currently under construction by Daewoo Shipbuilding & Marine Engineering Co., Ltd., (DSME) of South Korea, is expected to deliver in the third quarter of 2013, and subsequent to delivery from DSME to Awilco


MN 100: Crowley

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9487 Regency Square Boulevard Jacksonville, FL 32225 Tel: (800) 276-9539 Email: corpcomm@crowley.com  Website: www.crowley.com Chairman & CEO: Thomas B. Crowley The Company: Crowley Maritime Corporation is a U.S.-owned and operated marine solutions


Gazprom, Sovcomflot Expand LNG Transport Cooperation

Gazprom and Sovcomflot named the new state-of-the-art 170,000m³ liquefied natural gas carrier (LNGC) Pskov, after one of the oldest Russian cities. The ship will be chartered to Gazprom Global LNG (GGLNG) under a long-term contract. The LNGC Pskov is the second vessel in a series of


LNG Finalizes Acquisition of Bear Head LNG Project

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  Liquefied Natural Gas Limited today informed having finalised the acquisition of 100% of Bear Head LNG Corporation (BHLC). This follows the announcement to the ASX by LNGL on 28 July 2014 regarding the signing of an agreement to acquire BHLC from a subsidiary of Anadarko Petroleum


Skangass Granted Permission for LNG Terminal

Skangass LNG Terminal to come up in  Gävle, Sweden

  The Swedish Government (Länsstyrelsen in Dalarnas Län) has granted Skangass permission to build and operate a new Terminal for LNG (Liquefied Natural Gas) within the harbour in Gävle, Sweden. Skangass aims at starting the construction work during 2015.


Faster Approvals for LNG Export to Non-FTA Countries

Magnolia-LNG receives export boost

  Liquefied Natural Gas Limited has advised that the U.S. Department of Energy has revised procedures that could result in faster approval of applications to export LNG to non-Free Trade Agreement (Non-FTA) countries. The company had in October 2013 applied for approval to export 8


Liquiline to Construct Denmark's First LNG Bunker Terminal

Port of Hirtshals scene: Photo Liquilline

Liquiline says it has entered into a contract with Fjord Line to design, construct and commission an LNG ship bunkering terminal for Fjord Line AS at the Port of Hirtshals, Denmark. The terminal will be constructed at the Port of Hirtshals


Doosan Delivers a ‘World’s First’ to NASSCO

The MAN B&W 8L70ME-GI engine pictured at Doosan’s Changwon works in Korea (courtesy Doosan Engine)

Doosan Engine has confirmed delivery of the world’s first dual-fuel, low-speed ME-GI engine to the American National Steel and Shipbuilding Company (NASSCO) shipyard in San Diego, USA. The new engine is capable of operation on LNG and/or bunker C oil and will power the first of two 3


Lithuania Inks First Statoil LNG Deal

Lithuania seeks to cut dependence on Russia; Statoil to supply 0.54 bcm of gas per year. This will cover about 20 pct of Lithuania's demand. Lithuania signed its first liquefied natural gas purchase deal with Norway's Statoil on Thursday


LNG America Selects Topside Designer for LNG Bunker Barge

Image: LNG America

LNG America has selected Taylor-Wharton to commence the front-end engineering and design work for the cryogenic topside of the company’s 3,000 cubic meter Gemini Class LNG bunker barge scheduled for delivery at the end of 2015. “Taylor-Wharton has been actively engaged in the


Mozambique: $30b Invested for 2018 LNG Export

More than $30 billion will be invested initially in Mozambique's natural gas sector to build capacity to produce 20 million tonnes per year of liquefied natural gas (LNG), with the first exports due to start in 2018, the national oil company said.


LNG Transport Barge Design Approved by ABS

Image: Bristol Harbor Group, Inc.

Conrad Shipyard, L.L.C. engaged Bristol Harbor Group, Inc. (BHGI) to develop a 3,000 cubic meter Liquefied Natural Gas (LNG) transport barge utilizing a Bristol Harbor Group proven hull design built by Conrad.  Bristol Harbor Group has been awarded an Approval in Principle (AIP) by the


Höegh LNG - Interim results for quarter ended 30 June 2014

  Höegh LNG reported USD 32.3 million in total income in the second quarter 2014, down from USD 42.7 million in the second quarter 2013. The decrease is mainly due to USD 16.2 million lower construction contract revenues. "We reached an important milestone when the complex FSRU


ABS Opens Office in Beijing

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ABS, a global provider of classification services to the marine and offshore industries, announces the opening of a new office in Beijing. This move shows ABS' determination in expanding best-in-class service for the Chinese market. This new office will allow further collaboration with government


Wärtsilä Upgrades Fuel Gas Handling Solution

The upgraded Wärtsilä LNGPac system.

With LNG becoming increasingly viable and popular as a marine fuel, Wärtsilä continues to develop technical solutions that facilitate this trend. The latest Wärtsilä developments in this field involve an upgraded version of the Wärtsilä LNGPac


Kogas Talks to Offload up to 10 Autumn LNG Cargoes

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Korea Gas Corp. has approached long-term suppliers of liquefied natural gas (LNG) to defer up to 10 autumn cargos to winter, showing it is lumbered with excess supply and pulling out of spot markets, industry sources said. High stocks and weak demand prompted state-run Kogas






 
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